- Esther Lee & Associates
- Franchisee Code R0001788
- Rockwills Senior Estate Planner
- Associate Estate Planning Practitioner
+603 6206 3288
What is a Foundation?Why a foundation?Comparison Between Trust and Foundation
Features
- It is a legal entity which provides both the benefits of a trust and the structure of an independent corporation
- It looks like a company and works like a trust
- Like a company, it can also have perpetual existence
- Assets transferred to a foundation is not subject to estate creditors’ claim
- Assets are managed by a group of perons (normally family members) who you trust
- Permitted by law to have perpetual existence which is essential for multigenerational planning
| Features | Trust | Foundation |
|---|---|---|
| Person who set it up | Settlor | Founder |
| Beneficiaries | Yes | Yes |
| Duration of Existence | 80 years of life of a person plus 21 years (Malaysia) | Perpetual |
| Legal Title of Assets held by | Trustee | Foundation |
| Document | Trust Deed | Charter & Articles |
| Administration | trustee | Council |
| Management | Trust Officer | Officer |
| Protective Committee | Yes | Yes |
Structure of a Family Foundation
